Borgward is surely an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group generated four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the business's first new car with over 40 years, the BX7 at the actual 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself regarding "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and because of the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand this scope of his vehicle business, and he took control of computer.
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The initial "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of little three-wheeled van with only two hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his attention to the other businesses and also led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the name was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from businesses he had acquired in the past to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business during a period of austerity and rationing. For many purposes the firms would be run as being a single entity, but in a business operated by the man to whom delegation did not come naturally the proliferation of legal entities on the other hand added unhelpful layers of complexity through the 1950s and encouraged a broadening of the range which eventually proved financially unsustainable with the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.Among the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's hottest model and remained in production for your life of the corporation. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such as air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies such as Opel and VW took benefit from economies of scale as well as kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its dimension, as it basically operated as four tiny independent companies and do not implemented such basic expense reduction strategies as shared development and parts sharing between company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox mistakes. Lloyd lost money on the car just about the most was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by lenders. Carl Borgward died throughout July 1963, still insisting the company was technically solvent. This proved to be true inside sense that after the actual creditors were paid entirely, there was still some. 5 million Marks left from the business.
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Reviews of difficulties at Borgward surfaced in an article that appeared throughout Germany's leading news magazine, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly important of Carl Borgward's company approach, and included many in the arguments later advanced to describe or justify the business's demise. The widest range regarding cars from any maker in Germany, produced by three till recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Represents, placing the overall sales value from the combined Borgward auto firms only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation of new and modified types featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") afforded rise to components which too much did not work, broke down or fell apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article has not been the only serious open criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild paper and in television reviews. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent that this business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses like auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly at full capacity, but the car market in Europe from the 1950s/60s was more temporary than today, with sales diminishing in Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars towards the end of 1960 was above usual, reflecting ambitious growth strategies, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered because of the North American dealers throughout 1960 (and with the 12, 000 delivered to them) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not the one European auto maker hit by the North American slump popular for imported cars during 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached your banker for a further a single million Marks of credit, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood regarding critical press comment this senators withdrew their guarantee. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to the senate’s terms on four February 1961, thereby averting the bankruptcy with the business.The Bremen Senate also insisted on appointing its very own nominee as chairman from the company’s supervisory board. The man they decided was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice on the breadth of Semler’s career. He had studied legislation at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU gathering, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by this time based in Munich, with a network of contacts inside Bavarian establishment that almost certainly included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position within the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators in order to chair the Borgward supervisory mother board would, in retrospect, contribute to the hot debate that followed the Borgward a bankruptcy proceeding.
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About 28 July 1961 Semler, as Chairman of the supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while as well protecting the interests regarding creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his own, never had any intention of allowing the Borgward auto-businesses to help survive.
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